Central Banks
Incoming RBNZ governor signs deal on new mandate
Agreement establishes dual mandate in the birthplace of inflation targeting; government reveals more details on changes to decision-making structure
Yield curve can help improve forecasts – RBNZ economists
Yield curve information tends to improve forecasts of economic activity, researchers find
Bank of Uganda warns on debt levels
Debt levels could be closer to 50% of GDP if undisbursed loans are taken into account; government upgrades risk of debt distress to “moderate”
People: Brazil central bank set for female deputy
Carolina de Assis Barros set to become deputy governor after reshuffle; ECB’s Euribor expert prepares for EMMI move; and more
Fed profits shrink as interest expenses bite
The Fed’s profits in 2017 were more than $10 billion smaller than a year earlier, as the effects of interest rate hikes begin to show
Ukrainian central bank criticises lawmakers for failing to reform state-owned banks
Draft law aimed to protect country’s largest banks from ‘political impact’, NBU says
Norwegian governor reflects on investment of oil revenues
A conservative approach allows the country to avoid “Dutch disease” – Olsen
IMF unveils new data strategy
Fund’s first ever “overarching strategy” on data envisages new approach to gathering, processing and sharing statistics
Book notes: Respectable banking, by Anthony Hotson
The author’s sensible goal of “respectable banking” is admirable, but the recommendations would not all help to achieve this
Basel Committee adds ‘amber zone’ in market risk revamp
“Amber zone” will protect near-miss desks, but regulators not convinced by complaints on non-modellable risk factors
Myanmar central bank opens up more room for foreign banks
Seven foreign banks received a long-awaited approval to provide trade finance to local exporters
Canada’s Wilkins calls for improved macro frameworks
Bank of Canada deputy highlights the importance of better models and improved data in understanding impact of monetary policy on stability
Slovene governor quits post after receiving death threats
Governor Jazbec says threats come from “bailed-in” bond and shareholders; criticises article by presidential adviser
BIS economists find frictions in banks’ dollar funding
Authors investigate wide divergence in the business models of European and Japanese banks
BoE on track for May rate hike
MPC votes 7-2 in favour of maintaining rates at 0.5% but leaves the door open for two potential rate hikes in 2018
Supervision hampered by fragmented banking regulation – Lautenschläger
Current framework needs wider scope to secure a safer financial system, ECB supervisor says
SNB achieved record profits in 2017
Acquisitions of euros and dollars via foreign exchange interventions yielded 91% of the gains; SNB reshapes portfolio with greater share of equities and riskier bonds
Brazil nears end of easing cycle as rates hit fresh low
Committee signals there will likely be a pause in rate cuts soon, as inflation evolves “more benignly than expected”